America has an uneasy relationship with the idea of the unpaid internship. On the one hand, it’s a way for young people to get some experience and learn some things. On the other, it’s a form of resume-building that’s rigged in favor of kids who can afford it—and especially of kids whose connections can get them hired.
William Daley, the former White House chief of staff, has just dropped out of the running for governor of Illinois. You’re forgiven if his campaign hadn’t even registered on your radar screen yet—his candidacy, against incumbent Governor Pat Quinn, lasted all of seven weeks.
There were plenty of reasons to oppose Larry Summers’s nomination to the Fed, which had seemed inevitable for much of the past few months, before Summers abruptly withdrew from consideration on Sunday. There’s Summers’s famously polarizing intellectual style, which made him a lousy fit for the consensus-driven (and hyper-transparent) Fed.
It has become glaringly obvious over the past couple months that President Obama wants to nominate Larry Summers to become the next chair of the Federal Reserve. According to CNBC’s John Harwood, Obama feels he “owes” Summers for his willingness to serve the country during the first-term response to the Great Recession.
Sheryl Sandberg, the Facebook executive, has been hailed as one of the feminist heroes of this decade. Her message, telegraphed most loudly in this year's "Lean In," has been criticized for being gussied-up corporate self-help, but it also has been earnestly memorized by young female go-getters across the country. And, it appears, middle-aged, powerful wealthy men, too.
He's a Skilled Operator
When you read about Larry Summers in the press, a certain figure emerges. You hear him described as “controversial” and “polarizing.” The stories about him might include a detail about an un-tucked shirttail or his penchant for long argumentative meetings. These renderings of Larry—with whom I co-taught a class on globalization—lose track of his great strengths.
There are now two, parallel debates taking place outside the White House over President Obama's choice of Fed chair Ben Bernanke's replacement.
The flabby thinking behind Obama's possible Fed nomination
For Fed chair, Obama could pick a woman who fought the good fight. Or he could pick an abrasive insider whose record is decidedly mixed.
Learning power politics from Gene Sperling
Learning the art of power politics from one of the most inexhaustible—and exhausting—men in Washington.